The Economic and Financial Crimes Commission (EFCC) has arraigned Sarumi Samusudeen Babafemi, an associate of embattled social media celebrity Ismail Mustapha, popularly known as Mompha, over an alleged ₦206 million fraud before the Lagos State Special Offences Court sitting in Ikeja.
Babafemi was arraigned on Tuesday, January 20, 2026, alongside three companies—606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited—before Justice Rahman Oshodi.
According to the EFCC, the defendant and his companies are facing a five-count charge bordering on conspiracy, concealment, and transfer of proceeds of crime amounting to ₦206 million, contrary to Section 332(1) of the Criminal Law of Lagos State, 2011.
In one of the counts, the anti-graft agency alleged that Babafemi, while serving as Managing Director and Chief Executive Officer of the companies, conspired with Mompha and others currently at large between 2013 and 2018 to use corporate accounts to conceal the origin of illicit funds. The prosecution alleged that ₦37.6 million was transferred to a third party, Omojadesola Shittu Allison, with knowledge that the funds were proceeds of unlawful activity.
Another count accused Babafemi of transferring ₦93 million between 2015 and 2018 to one Olanrewaju Ibrahim Oriyomi through the companies’ accounts, allegedly knowing the funds were linked to criminal activities.
Babafemi pleaded not guilty to all the charges when they were read to him in court.
Following the plea, the prosecution counsel, Ayanfe Ogunsina, requested a trial date and urged the court to remand the defendant in a correctional facility pending trial. However, defence counsel, Kunle Adegoke, SAN, informed the court that he had only received the charges the previous day and had already prepared a bail application. He requested that Babafemi be released to him, assuring the court of his client’s availability at subsequent hearings.
Justice Oshodi granted the request, ordering that the defendant be released to his counsel upon the filing of an affidavit of undertaking to produce him in court on the next adjourned date.
The case was adjourned to March 24, 2026, for the commencement of trial.